A stab of $ 9 billions

The cliché of devaluing rupee to increase exports has proven disastrous for Pakistan a number of times. This sort of rhetoric is often used by those with vested interests to encourage SBP actions to appreciate dollar value. The depreciation, as it is called, leads to an automatic and commensurate increase in our foreign and domestic debts, which have increased, you wouldn't believe it, by around nine billion dollars in just eight months. The nation must resist this continual depreciation of rupee on the pretext of increasing exports because our factories are closing down due to the resultant increase in the cost of doing business.